Trading Spaces

The numbers are in and September registered some important commercial real estate deals. PropertyShark research shows the nine figure deals were based in Manhattan, outside of the Citibank Tower in Queens, but Brooklyn boasted some hot transactions as well.
Here are NYC’s top 10 commercial real estate deals recorded in September

The numbers are in and September registered some important commercial real estate deals. PropertyShark research shows the nine figure deals were based in Manhattan, outside of the Citibank Tower in Queens, but Brooklyn boasted some hot transactions as well.

Here are NYC’s top 10 commercial real estate deals recorded in September 2015.

Midtown-based investment firm, Angelo Gordon & Co closed on 575 Lex, a 624,883 SF, 35 story office tower in late August. The building, built in 1958, offers 38 units in Hunters Point. Just 3 years ago, the building cost its new buyer $360 million.

The tallest building outside of Manhattan, 25-01 Jackson Avenue, known as One Court Square or the Citibank Building, was refinanced in September by its current owners after a stint on the market earlier this year. The 1,359,110 SF, 51 story, Class A office building traded for $500,000,000 in 2011.

Heskel picked up the 14-story building at 215 West 40th Street for a cool $52,500,000. The 65,186 SF office building in Times Square is historically home to garment companies including its largest tenant Revise Clothing.

Newark-based Edison Properties picked up 45-47 West 27th Street in NoMad, a 12 story 54,238 SF office building built in 1912. The building was bought by Extell just last year for a mere $12.5 million and it is one of the 14 Ring properties acquired from the Ring brothers.

109 South 5 Property sealed the deal on the Artisan, a 60,000 SF South Williamsburg office building redesigned in 2001. Zoned for residential, the buyers plan to keep it as offices and convert the second to sixth floors into open-floor loft space.

NoMad development firm, Fulton Partners tacked on 3 more properties to its 8 existing purchases in the DoBro Fulton Street site since late 2012, bringing the total space owned to about 343,000 buildable SF. The contiguous properties at 547-549, 551 and 553 Fulton Street all feature retail on the bottom level and apartments above.

Kahen Properties bought up 3 adjacent residential and commercial buildings on Livingston St. in DoBro for $23,150,000. 80, 86-88, & 90 Livingston St. provide 32,000 SF. of mixed use space. Between the trio are 25 residential units and 8 commercial units all with retail on the ground level.

The developers of the One Flatbush project picked up adjacent 570 Fulton St. in the Fort Greene neighborhood. The nonprofit SCO Family of Services owned the 3 story, 26,400 SF office space for 30 years and has since moved its operations.

While the developers are likely to build condominiums on the site, it is unlikely to become an extension of their current project on Flatbush.